Dubai real estate transactions hit $1.23bn last week

A total of 2,098 real estate transactions worth AED4.5 billion ($1.23 billion) were recorded in Dubai during the week ending February 18, 2022, according to figures released by the Dubai Land Department.

 Some 252 plots were sold for AED1.1 billion, 1,437 apartments and villas were sold for AED2.47 billion, a WAM report said.

 The top three transactions were a land in Palm Jumeirah selling for AED60 million, followed by a land that was sold for AED38.79 million in Hadaeq Sheikh Mohammed Bin Rashid, and a land sold for AED60 million in Palm Jumeirah in third place.

 Al Hebiah Fifth recorded the most transactions for this week by 90 sales transactions worth AED201.51 million, followed by Jabal Ali First with 57 sales transactions worth AED140.61 million, and Al Hebiah Fourth with 39 sales transactions worth AED332 million in third place.

 The top three transfers for apartments and villas were an apartment sold for AED500 million in Marsa Dubai, an apartment sold for AED214 million in Al Merkadh, and thirdly an apartment sold for AED174 million in Burj Khalifa.

 The sum of the of mortgaged properties for the week was AED955.1 million, with the highest being a land on Island 2, mortgaged for AED158 million. 56 properties were transacted between close relatives worth AED54 million.

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